ElevationSpace Inc. (CEO: Ryohei Kobayashi), a company developing Space-to-Earth transportation as well as a Space Environment Utilization and Recovery Platform, has raised a total of US $40 million in its Series B round through a third-party allotment of shares from investors including SPARX Asset Management, Beyond Next Ventures, Energy & Environment Investment, NTT DOCOMO Ventures, Toyoda Gosei and Dai Nippon Printing.
Through the largest funding round in the company’s history, the close of the funding round brings the total amount raised since its founding to US $63.5 million, demonstrating the growing attention and confidence in the space transportation and low-Earth orbit (LEO) utilization markets.
Background of the Funding
The company is developing the “ELS-R” series satellite for the space environment utilization and recovery platform and “ELS-RS” for a high-frequency cargo recovery service from space stations back to Earth.
This initiative leverages Japan’s unique expertise in small satellite lift-guided re-entry – a capability solely demonstrated by Japan and essential for returning payloads from space stations to Earth as well as crewed spacecraft from space to Earth. The company is close to completing assembly of the “AOBA”, which is the first private re-entry satellite and the first model of the “ELS-R” series.
